Belpointe Asset Management LLC purchased a new stake in shares of Bloom Energy Co. (NYSE:BE – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,781 shares of the company’s stock, valued at approximately $244,000.
Several other hedge funds also recently added to or reduced their stakes in the business. Private Trust Co. NA acquired a new position in shares of Bloom Energy in the 4th quarter worth approximately $57,000. Quent Capital LLC purchased a new stake in Bloom Energy during the 4th quarter worth about $57,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Bloom Energy during the third quarter worth about $89,000. Sandia Investment Management LP acquired a new position in shares of Bloom Energy during the third quarter worth about $100,000. Finally, Quantbot Technologies LP lifted its stake in Bloom Energy by 27.8% in the first quarter. Quantbot Technologies LP now owns 4,673 shares of the company’s stock worth $112,000 after acquiring an additional 1,017 shares during the last quarter. 79.55% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on BE shares. Raymond James lowered Bloom Energy from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $29.00 to $25.00 in a report on Wednesday, April 5th. Morgan Stanley decreased their price objective on shares of Bloom Energy from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, April 3rd. TheStreet downgraded Bloom Energy from a “c-” rating to a “d+” rating in a report on Tuesday, May 9th. JPMorgan Chase & Co. lowered Bloom Energy from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $29.00 to $27.00 in a research report on Friday, February 10th. Finally, KeyCorp lifted their price target on Bloom Energy from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, February 10th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.63.
Bloom Energy Trading Up 3.2 %
Insider Transactions at Bloom Energy
In other news, EVP Shawn Marie Soderberg sold 6,501 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $18.04, for a total value of $117,278.04. Following the sale, the executive vice president now owns 459,862 shares of the company’s stock, valued at $8,295,910.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Bloom Energy news, insider Sharelynn Faye Moore sold 2,016 shares of the stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $18.52, for a total value of $37,336.32. Following the transaction, the insider now owns 162,175 shares in the company, valued at $3,003,481. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Shawn Marie Soderberg sold 6,501 shares of the stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $18.04, for a total value of $117,278.04. Following the transaction, the executive vice president now directly owns 459,862 shares of the company’s stock, valued at $8,295,910.48. The disclosure for this sale can be found here. Insiders have sold a total of 313,461 shares of company stock valued at $6,163,328 over the last 90 days. 8.81% of the stock is owned by company insiders.
About Bloom Energy
Bloom Energy Corp. engages in the manufacture and installation of a solid oxide fuel-cell based power generation platform. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K.
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